Market Recovery

There is now no question about the housing market being in a recovery mode. The really good values that become available on the market are being snatched up within the first couple days of their being listed, and with multiple offers. They are also selling at full price.

We had another experience yesterday with that recovery as one of the houses that we were interested in was under contract with multiple offers on the third day it was listed as being available. The one house we were interested in sold new for $305K in 2005 before the housing bubble burst, resold in 2010 for $199K and was under contract yesterday for $275K. The fascinating aspect of this recovery is that the interest rates are remaining very low at around 3.75%. We are beginning to get a little frustrated as it reminds us of the way the market was in 2005 when the available inventory of good values was small and what is available is being sold within a few days. Somewhere out there is the perfect house for us and we will keep a sharp eye out for its availability.

We expect to have the response today from the investor of the home we thought we purchased but has a lien on the title. It's still hard to believe that an individual so astute at managing his real estate portfolio would allow this to happen so that his hands are tied while trying to flip his properties. Oh, well. It is back to the search for us...